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House prices along Cycle Superhighways are 80% higher than average

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New reasearch by estate agent Benham and Reeves has shown that house prices along all seven Cycle Superhighways averages £874,578, 80% higher than the current average London house price of £485,794. The cost of living along a London Cycle Superhighway also largely exceeds the wider average cost of buying in the boroughs these routes pass through.

The largest cycle property price premium is found along CS3, between Tower Hill and Lancaster Gate. The average house price in outcodes straddling this route currently sits at £1.2m, 149% more than the London average. This is also higher than the average house price in three of the four boroughs the route runs through, with just Kensington and Chelsea coming in above it.

At £1,018,929, the cost of buying along CS5 – Oval to Pimlico comes in ever so marginally more than CS8 – Wandsworth to Westminster (£1,017,777). Both are home to average house prices 110% more than the London average.

At £877,258, the CS6 stretch from King’s Cross to Elephant and Castle is the next most expensive Cycle Superhighway, 81% more than the London average. With Camden the only one of the four boroughs it passes through to see a higher average house price overall.

CS7 – Merton to the City has an average property price of £695,652 along the route, 43% more than the London average, while CS2 – Stratford to Aldgate provides the best homebuyer value along a Cycle Superhighway; although this is still 22% higher than the London average at £591,080.

Director of Benham and Reeves, Marc von Grundherr, commented:

“Although it remains the cornerstone of the property market, London is as susceptible to change as the rest of the UK sector and there’s no doubt that the current impact of COVID-19 will influence prices and transactions over the coming months.

However, this change won’t necessarily be negative for the market as a whole. Traditionally, the sought after feature of a nearby tube station would have allowed sellers to command a higher price than other similar properties in the area, but while travel remains restricted and apprehensions around public transport are high, this will no longer be the case.

With government advice to avoid public transport where necessary, we’ve already seen a 17% uplift in the number of people enquiring on homes close to Cycle Superhighway and as these transport routes soar in popularity, property values will continue to follow suit.

Much like the spillover effect we’ve seen in more affordable boroughs surrounding popular locations, as well as the London commuter zone, the wider areas along these routes should also see an uplift in market health as people look for a more affordable option close to a Cycle Superhighway.”

Cycle Superhighway Route Average house price along route* Boroughs along route Average price of boroughs along route Difference to London average (%)
CS2 Stratford to Aldgate £591,080 Newham £387,326 22%
Tower Hamlets £472,662
City of London £792,583
CS3 Tower Hill to Lancaster Gate £1,207,322 Tower Hamlets £472,662 149%
City of London £792,583
City of Westminster £1,085,013
Kensington and Chelsea £1,396,102
CS6 King’s Cross to Elephant & Castle £877,258 Camden £881,096 81%
Islington £632,270
City of London £792,583
Southwark £488,610
CS5 Oval to Pimlico £1,018,929 Lambeth £525,487 110%
City of Westminster £1,085,013
CS7 Merton to the City £695,652 Merton £509,252 43%
Wandsworth £624,858
Lambeth £525,487
Southwark £488,610
City of London £792,583
CS8 Wandsworth to Westminster £1,017,777 Wandsworth £624,858 110%
City of Westminster £1,085,013
CS1 Tottenham to the City £714,028 Haringey £565,343 47%
Hackney £638,683
Islington £632,270
City of London £792,583
Average £874,578 Difference between CS average and London average 80%
London Average £485,794
*Average house price across all outcodes that each cycle superhighway passes through
Outcode house price data sourced from PropertyData. London and London borough house price data sourced from Gov.uk.



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